Question 1. Which stage in the product life cycle is critical to a product's survival because competitive reactions to the product's success during this period will affect the product's life expectancy?

Growth
Decline
Expansion
Introduction
Stabilization

Question 2. The marketing and financial value associated with a brand's strength in a market is referred to as brand ___________
equity
loyalty
value
share
association

Question 3. Which of the following is not a service product?

a 100% service satisfaction guarantee
A Jimmy Buffett concert
A flight on Southwest Airlines
An overnight stay at a Holiday Inn
The dry-cleaning of a suit

Question 4. Jim Price, a dentist, find that he is not bringing in enough revenue to cover his expenses. He would like to schedule more patients, but he finds that in almost every time slot, he is seeing an existing patient. Jim's problem in expanding his practice deals with the aspect of service called

inseparability
slotting
credence
heterogeneity
perishability

Question 5. If H&R Block, a major tax preparation firm, is having a problem with its employees being inconsistent in filing of returns, the firm is experiencing a problem with which characteristic of the service offering?

Inseparability
tangibility
Intangibility
Perishability
Heterogeneity

Question 6. A channel of distribution is a group of individuals and organizations that

links producers to other marketing intermediaries
consumes about one-half of every dollar spent on products in the U.S.
directs the flow of products from producers to customers
takes title to products and resells them
manages transportation and warehousing functions

Question 7. An arrangement in which a supplier grants a dealer the right to sell products and/or services for some type of consideration is
selling products on consignment

franchising
retailing
licensing
wholesaling

Question 8. In contrast to industrial products, consumer products are often purchased because of

social influences and psychological factor
economic planning
necessity
prior planning
rational needs

Question 9. Advertising, personal selling, sales promotion, and public relations are called

advertising tools
marketing mix components
characteristics of a product
promotion mix ingredients
nonpersonal communications

Question 10. Frequently, McDonald's restaurants offer 32-ounce glasses depicting currently popular movie characters free with the purchase of a large drink. This example illustrates McDonald's use of which one of the following elements of the promotion mix?

public relations
Packaging
personal selling
telemarketing
sales promotion

Question 11. To gain market share, Hyundai entered the U.S. car market with a comparatively low price. One of the negative side effects of taking this pricing position is

a negative impact on consumer's perceptions of quality
competitive matching
a high return on investment level affecting tax balances owed
poor survival chances
higher developmental costs

Question 12. When developing prices, a marketer's first step is to

determine pricing method
determine demand
select a pricing policy
evaluate competitor's prices
develop pricing objectives

Question 13. For customers, value is a function of

the product's price and how long the product will last
primarily the product's price
the product's price and quality attributes
the product's quality and functional attributes
the product's quality relative to the quality of competing brands

Question 14. The fact that senior citizens are charged a lower price at movie theaters than younger adults is an example of

promotional pricing
price-line pricing
differential pricing
professional pricing
psychological pricing

Question 15. The most common reason for marketing strategies turning out differently than expected is that

managers fail to realize that marketing implementation is just as important as marketing strategy
marketing implementation is poorly conceived
not enough resources are devoted to marketing implementation
the marketing environment changes too frequently
managers often have lofty expectations about the marketing strategy

Question 16. If Apple Computer measured and evaluated the quality of its goods, services, and processes as compared with those of the best-performing companies in the computer industry, it would be employing

external marketing
uniform commitment to quality marketing
internal marketing
benchmarking
quality marketing

Question 17. In a traditional organization, marketing decisions are generally

centralized at the top levels of the organization
very decentralized
made by frontline employees
made by frontline managers
made only by the CEO

Question 18. The marketing control process consists of

setting objectives, implementing strategies, and reducing the differences between desired and actual performance
establishing goals, market scanning, and market share analysis
establishing goals and measuring performance
planning, implementing, and measuring marketing activities
establishing standards, evaluating performance, and reducing the differences between desired and actual performance

Question 19. An expected level of performance against which actual performance can be compared is a

standard performance
performance standard
step in sales
corrective standard
standard of excellence

Question 20. All of the following are major steps in developing new products except

test marketing.
evaluation of competitors' efforts.
screening.
business analysis.
idea generation.

Question 21. To use co-branding effectively, which one of the following is least important?

The brands involved should represent a complimentary fit in a customer's mind.
The brands that are teamed together should not lose their individual identities.
The brands involved should be owned by two or more organizations.
To avoid confusion on the part of customers, co-branding should be done in a way so that it is obvious which brand is the main brand or key brand.
The co-branded product should be able to benefit from the distribution system of both brands involved.

Question 22. An important goal of physical distribution is reducing the time it takes to complete a process, or inventory management.

outsourcing.
electronic data interchange.
order processing.
cycle time.

Question 23. Which of the following is the least flexible of the strategic retailing issues?

Atmosphere
Scrambled merchandising
Retail positioning
Store image
Location

Question 24. What type of advertising points out a brand's uses, features, and advantages that fit consumers but may not be available in other brands?

Reminder advertising
Reinforcement advertising
Competitive advertising
Defensive advertising
Institutional advertising

Question 25. Which of the following is most likely to stimulate customer loyalty?

Coupons
Sweepstakes
Frequent-user incentives
Samples
Premiums